STATE OF WEST VIRGINIA
DEPARTMENT OF COMMERCE, DIVISION OF NATURAL RESOURCES, OFFICE OF LAND & STREAMS, 324 4th AVENUE, ROOM 200, SOUTH CHARLESTON, WEST VIRGINIA 25303.
TELEPHONE : (304) 558-3225, DIVISION OF NATURAL RESOURCES
OIL & GAS RESOURCES BID PROSPECTUS FOR LEASING AND PRODUCTION:
A prospectus on the oil and gas resources beneath the waters of the Ohio River located in Pleasants, Marshall and Wetzel Counties, West Virginia. Keith Burdette, Secretary West Virginia Department of Commerce; Frank Jezioro, Director West Virginia Division of Natural Resources.
I. Introduction
The State of West Virginia, through the Division of Natural Resources, holds title to certain lands and mineral resources in the state. The Division of Natural Resources administers and manages those lands in order to provide a comprehensive program for the conservation, development, protection, enjoyment, and use of the natural resources of the state by its citizens and visitors.
The Division of Natural Resources, may lease coal, oil, gas, sand, gravel under its control and management for proper development and production, all in accordance with Chapter 20, Article 1, Section 7, Paragraph 14.
The Division of Natural Resources in its endeavors of managing its real estate resources has decided to lease, by competitive bidding process, the oil and gas resources for development and production from beneath the waters of the Ohio River, beginning at mile post 155 to 145; mile post 116 to108 and mile post 121 to 125 in Pleasants, Marshall and Wetzel Counties, West Virginia.
II. Location of Resources
SUBJECT TO THE RESTRICTIONS ESTABLISHED BY THE CORPS OF ENGINEERS, WV DNR AND WV DEP.
This lease prospectus includes the following oil and gas resources located beneath the waters of the Ohio River in Pleasants, Marshall and Wetzel Counties, West Virginia, more specifically located and shown on the maps included with this prospectus.
III. Production and Assurance of Maintaining Environmental Integrity
Production of the Division of Natural Resources oil and gas resources beneath the waters of the Ohio River shall be by environmentally sound methods: and procedures will be reviewed by the Department of Commerce, Division of Natural Resources in addition to all other federal and state agencies which may have jurisdiction and/or regulatory control and enforcement authority over such oil and or gas resources and production activities.
Also, the Division of Natural Resources oil and gas resources shall be developed and produced by the successful bidder and/or bidders in a prudent manner, efficiently, economically, without waste, and in the best interest of the State of West Virginia, Department of Commerce, Division of Natural Resources with all diligence and in a workmanlike manner in accordance with the best, most up-to-date oil and or gas producing methods.
IV. Minimum Bid
The Division of Natural resources requires a standard royalty of 20% or 1/5 to develop its oil and gas resources.
Bids shall be for a cash bonus for each tract on a per acre basis. Leases will be awarded to the highest bidder and based upon the Director’s determination the bidder will operate responsibly and develop the prospect that protects the interest of the State of West Virginia.
The Division of Natural Resources will consider any other form of consideration.
V. Bid Submission and Cut-off Date
All written sealed bids shall be received by the Department of Commerce, Office of the Secretary by 3:30 p.m. eastern time on Thursday, September 25, 2014, at 1900 Kanawha Boulevard, East, State Capitol, Building 6, Room 525, Charleston, West Virginia 25305- 0311.
VI. Bid Opening and Review
The Department of Commerce, Office of the Secretary will hold a public opening of all bids on Friday, September 26, 2014, at 1:00 p.m. in Room 525 at its office at 1900 Kanawha Boulevard, East, State Capitol Complex, Building 6, Charleston, West Virginia, 25305-0311. Thereafter, the Department of Commerce, Division of Natural Resources will review all bid proposals. The Department of Commerce, Division of Natural Resources reserves the right to reject any and all bids.
VII. Bidder Registration Form
Each individual bid shall include as a part of their bid package the completed attached bidder registration and submission forms to assist the DNR in its evaluation of the bidding entity to determine if their technical expertise and economic resources are sufficient to carry out their proposal.
VIII. Bid Award
The Department of Commerce, Division of Natural Resources will notify the successful bidder of their bid acceptance no later than two week s from the bid closing date.
IX. Limitation of Warranty
The Division of Natural Resources is considered to be the owner of the oil and gas resources, but makes no warranty as to the presence of said resources or any specific amounts.
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See also: WV Department of Commerce, Properties Actively Out for Bid.
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